StockNews.com Downgrades Tredegar (NYSE:TG) to Hold

Tredegar (NYSE:TG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Tredegar Stock Performance

TG stock opened at $7.32 on Thursday. The stock has a 50-day moving average price of $7.72 and a 200-day moving average price of $7.44. Tredegar has a 1-year low of $3.98 and a 1-year high of $9.22. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The firm has a market cap of $251.42 million, a PE ratio of -9.26 and a beta of 0.75.

Tredegar (NYSE:TG) last posted its quarterly earnings data on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share for the quarter. The firm had revenue of $154.05 million during the quarter. Tredegar had a positive return on equity of 10.10% and a negative net margin of 3.84%.

Institutional Trading of Tredegar

Several large investors have recently made changes to their positions in TG. Gladius Capital Management LP acquired a new stake in shares of Tredegar in the 3rd quarter valued at about $40,000. Minerva Advisors LLC grew its stake in shares of Tredegar by 3.4% in the 3rd quarter. Minerva Advisors LLC now owns 1,663,107 shares of the basic materials company’s stock valued at $12,124,000 after buying an additional 55,357 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Tredegar by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,132 shares of the basic materials company’s stock valued at $548,000 after buying an additional 4,000 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Tredegar in the 3rd quarter valued at about $85,000. Finally, FMR LLC grew its stake in shares of Tredegar by 161.5% in the 3rd quarter. FMR LLC now owns 9,445 shares of the basic materials company’s stock valued at $69,000 after buying an additional 5,833 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.

About Tredegar

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.